War of attrition and power of inaction: The Spanish financial crisis its lessons for the European Banking Union
La guerra de trincheras y el poder de la inacción: la crisis financiera española y sus lecciones para la Unión Bancaria Europea
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Publication Date
2017 -
Publisher
Universidad de Huelva -
Abstract
The aim of this paper is to analyse the main causes of the Spanish financial crisis (2009/12). Risk mismanagement in the "war of attrition" between the main stakeholders (the central and regional governements, the Bank of Spain and the cajas), which was furtherreinforced by the "power of inaction" of the big SpanishBanks: Santander and BBVA
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